Q3 2019 EPS Estimates for Quantenna Communications Inc (NASDAQ:QTNA) Decreased by Analyst

Quantenna Communications Inc (NASDAQ:QTNA) – Equities researchers at William Blair dropped their Q3 2019 EPS estimates for Quantenna Communications in a research note issued on Tuesday, April 30th, Zacks Investment Research reports. William Blair analyst now forecasts that the technology company will earn $0.12 per share for the quarter, down from their previous estimate of $0.13. William Blair currently has a “Market Perform” rating on the stock.

Quantenna Communications (NASDAQ:QTNA) last issued its earnings results on Monday, April 29th. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.01. Quantenna Communications had a net margin of 2.24% and a return on equity of 6.86%. The company had revenue of $57.68 million for the quarter, compared to analysts’ expectations of $57.49 million. During the same quarter last year, the company posted $0.03 earnings per share. The firm’s quarterly revenue was up 27.8% on a year-over-year basis.

Several other research firms also recently weighed in on QTNA. Zacks Investment Research downgraded shares of Quantenna Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Morgan Stanley downgraded shares of Quantenna Communications from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $18.00 to $24.50 in a research report on Thursday, March 28th. Northland Securities downgraded shares of Quantenna Communications to a “market perform” rating in a research report on Friday, May 10th. Dougherty & Co downgraded shares of Quantenna Communications from a “buy” rating to a “neutral” rating in a research report on Thursday, March 28th. Finally, Needham & Company LLC downgraded shares of Quantenna Communications from a “strong-buy” rating to a “hold” rating and set a $24.19 price target on the stock. in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $21.71.

QTNA traded down $0.13 during trading on Thursday, hitting $23.91. The company’s stock had a trading volume of 927,601 shares, compared to its average volume of 959,695. Quantenna Communications has a one year low of $13.03 and a one year high of $24.48. The company has a market capitalization of $930.15 million, a PE ratio of 298.88, a PEG ratio of 3.09 and a beta of 1.02.

In other news, CEO Sam Heidari sold 2,147 shares of the firm’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $17.93, for a total transaction of $38,495.71. Following the sale, the chief executive officer now directly owns 325,478 shares in the company, valued at approximately $5,835,820.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 52,147 shares of company stock worth $1,064,746 over the last 90 days. Insiders own 13.49% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of QTNA. ARP Americas LP purchased a new position in Quantenna Communications during the first quarter valued at $31,022,000. Water Island Capital LLC purchased a new position in Quantenna Communications during the first quarter valued at $26,228,000. FMR LLC grew its stake in Quantenna Communications by 240.2% during the first quarter. FMR LLC now owns 1,172,465 shares of the technology company’s stock valued at $28,526,000 after acquiring an additional 827,855 shares in the last quarter. Alpine Associates Management Inc. purchased a new position in Quantenna Communications during the first quarter valued at $17,729,000. Finally, JPMorgan Chase & Co. grew its stake in Quantenna Communications by 31.1% during the third quarter. JPMorgan Chase & Co. now owns 2,230,121 shares of the technology company’s stock valued at $41,146,000 after acquiring an additional 529,520 shares in the last quarter. 71.06% of the stock is owned by institutional investors.

About Quantenna Communications

Quantenna Communications, Inc designs, develops, and markets wireless communication solutions enabling wireless local area networking in the Asia-Pacific, Europe, the Middle East, Africa, and the Americas. Its solutions portfolio comprises radio frequency chips and digital baseband chips, which support the IEEE Wi-Fi standards, including 802.11n, 802.11ac, and the draft Wi-Fi 6 standard.

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Earnings History and Estimates for Quantenna Communications (NASDAQ:QTNA)

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